Financial Performance - For the fiscal year ending March 31, 2024, the total revenue increased by approximately HKD 6,300,000 or 40.3% to about HKD 21,900,000 compared to approximately HKD 15,600,000 for the previous year[10]. - The net loss decreased from approximately HKD 33,200,000 for the year ending March 31, 2023, to approximately HKD 10,500,000 for the year ending March 31, 2024[10]. - The company's total revenue increased by approximately HKD 6,300,000 or 40.3% from about HKD 15,600,000 for the year ended March 31, 2023, to about HKD 21,900,000 for the year ended March 31, 2024[20]. - The contribution of consulting business from China to the overall revenue rose from 13.5% for the year ended March 31, 2023, to 40% for the year ended March 31, 2024[20]. - Gross profit increased by approximately HKD 2,000,000 or 56.1% from about HKD 3,500,000 for the year ended March 31, 2023, to about HKD 5,400,000 for the year ended March 31, 2024[22]. - The gross profit margin improved from approximately 22.3% for the year ended March 31, 2023, to about 24.9% for the year ended March 31, 2024[22]. - Service costs rose by approximately HKD 4,300,000 or 35.8% from about HKD 12,100,000 for the year ended March 31, 2023, to about HKD 16,400,000 for the year ended March 31, 2024[21]. - Administrative expenses decreased by approximately HKD 1,000,000 or 7.8% from about HKD 12,900,000 for the year ended March 31, 2023, to about HKD 11,900,000 for the year ended March 31, 2024[24]. - Financing costs decreased by approximately HKD 30,000 or 6% from about HKD 410,000 for the year ended March 31, 2023, to about HKD 380,000 for the year ended March 31, 2024[25]. Business Strategy and Operations - The company plans to adopt a cautious approach to business development in the next 12 months, focusing on monitoring market trends and adjusting strategies accordingly[11]. - The company has implemented several cost-cutting measures to enhance operational efficiency during the past year[10]. - The company continues to strengthen relationships with clients, subcontractors, suppliers, and business partners to effectively meet their needs[10]. - The company acknowledges that inflationary pressures and financing costs will be significant concerns for the upcoming year due to reliance on capital leverage[11]. - The company has maintained a robust business strategy and strict operational controls despite market challenges[10]. - The company aims to continue seeking business and investment opportunities in Hong Kong and China while implementing cost-saving measures[18]. - The board remains optimistic about the medium to long-term business prospects in Hong Kong and China despite recent financial performance challenges[18]. Corporate Governance - The company has adopted and complied with all provisions of the corporate governance code as per GEM Listing Rules Appendix C1, with some deviations noted[53]. - The board is committed to enhancing corporate governance practices to ensure compliance with new governance codes and align with the latest developments[55]. - The company has appointed four independent non-executive directors, meeting the requirement of at least one with appropriate professional qualifications and expertise in accounting or related financial management[60]. - The board will continue to review and enhance its diversity policy to ensure its ongoing effectiveness[67]. - The company has taken sufficient measures to ensure absent directors are informed of shareholder opinions following the annual general meeting[54]. - The management team is authorized by the board to execute daily management and administrative matters, with regular updates provided to the board[55]. - The board consists of a diverse group of directors with different educational backgrounds and professional experiences as of March 31, 2024[183]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee[81]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the group's performance, risks, strategies, measures, and commitments during the reporting period from April 1, 2023, to March 31, 2024[120]. - The governance framework for ESG issues is structured from the top down, ensuring alignment with strategic growth and promoting the integration of ESG elements into business operations[123]. - The board of directors is ultimately responsible for the group's ESG strategy and reporting, regularly reviewing and confirming related risks and opportunities[123]. - The ESG working group, composed of representatives from various departments, is responsible for collecting and analyzing ESG data and ensuring compliance with relevant laws and regulations[124]. - The group aims to invest more resources in sustainability, focusing on resource efficiency and carbon reduction to protect the environment[128]. - The group has maintained strict standards in environmental, social, and governance (ESG) goals as of the fiscal year ending March 31, 2024[135]. - The group emphasizes the importance of stakeholder engagement, with various communication channels established for shareholders, customers, employees, and suppliers[137]. - The group is committed to reducing its operational impact on the environment and adhering to relevant environmental protection laws and industry regulations[139]. Employee and Workplace Policies - Employee costs, including director remuneration, were approximately HKD 4.1 million for the year ended March 31, 2024, compared to HKD 3.8 million in 2023[50]. - The company promotes a culture of inclusivity and diversity, ensuring equal opportunities and zero tolerance for discrimination in the workplace[181]. - The company emphasizes employee communication and corporate culture, organizing various activities to enhance employee engagement and belonging[184]. - A total of 11 employees received 88 hours of training during the reporting year, with a training participation rate of 100%[191]. - The average training hours for male employees were 8 hours, while female employees also received 8 hours of training, with senior management receiving an average of 64 hours[191]. - The company plans to continue investing more resources in employee training and development to keep staff updated on market changes and demands[192]. - The company strictly adheres to labor laws and has not experienced any major labor disputes or incidents related to employee injuries in the past 12 months[193]. - The company prohibits the hiring of child labor and forced labor, ensuring compliance with relevant laws during the hiring process[194]. Supply Chain Management - The supply chain management focuses on procurement and purchasing, ensuring transparency and fairness in all procurement processes[198]. - Suppliers are evaluated regularly to ensure compliance with legal standards and product quality, with a preference for those sharing similar ethical standards[198]. - Procurement principles follow established trade practices and industry standards, inviting multiple bidders based on contract value and technical requirements[199]. - The company incorporates green product and environmental terms into contracts, emphasizing sustainability in supplier selection[199]. - A list of approved subcontractors is maintained, ensuring they meet quality control tests and have a good track record for timely delivery[199].
浩柏国际(08431) - 2024 - 年度财报